tv Washington Business Report ABC April 19, 2015 9:00am-9:31am EDT
[captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visincicap.org] >> business news from the capitol region. this is "washingtobusiness report" with abc7 national correspondent rebecca a cooper. rebecca: thanks for joining us. he for a look at business and fifinancand how it a affects you. on today's show, how instagram fine twitter, and even snapped chat can work k for yoyou. how republicans should be actingng to llary's economic message, andnd will housing and the economy rebouound? we will have all that and morore coming up with the round table. but first, last week we introduced you to mark walsh the cutting edge investor innovator, and intrapreneurial. his days at a well and hborove
that successful pple are not looking at what is hot today but what will be hot tomorrow. if you a are wonderi what's around the corner, mark's trtrack record shows we shld be looking to him. the second half of our one-on-one interview reveals where he lay some of his best bets. mark: i have a high appetite for risk. rebecca: for pain. mark: pain and risk are often the same two things. to me, the highs are higher and the lows are lower, but i will take that deal. i like really high highs. maybe i'm bipolar. i should probably get myself checked out here it -- out. rebecca: or not. mark: i'm not criticizing large corporations. i would rather be excited every day about the potential for major change in my job than not. after the bube, it was -- i
made enough money to be blunt, a vertical man. when i got into politics technology and politics, and education, working with colleges and universities on the technology side. it was great fun. rebebecca: let's jump to your job and politics. first, your title. you were the first ever chief technology officer for the democratic national party. mark: they did not have the officers at the democratic national committee. rebecca: they had no chief technology anything. mark: exactly right. i really got into education then, i became the chairman of the of trustees. i got involved in education companies. i was on the board of blackboard which is a dcdc-based educational -- i was an angel investor anderved on the board
for six years. i got to know the ed tech world pretty well. there's ano world tt has undergone transition over the last six to o eight years. i have a front row seat at watching college and university presidents and those teams watch how education is being delivered. if you are a freshman at the university of maryland using in four years you will have the exact same way of learning from the classroom? no. you think my kids or your kids in 25 years will be going to college like this? no way. watchihing the collision between what faculty and staff at colleges think it is versus where it's going to go, it's been incredidibly interesting and entertaining and a good investment opportunity for me. rebecca: before we get to the oradio gig, we have to back up to another interesting part of your career, air america. mark: i became ceo of the first
liberal talk radio network and itas an attempt to push back -- this is in 2003, push back on what has clearly been a right-wing republican tactic to take over talk radio. this 95% of talk radio in america that had a political tilt was right wing. you are thinking 5%, there has to be a market for more than 5%. we founded air america, we hired al franken and rachel maddow. she was a news reader springfield, massachusetts at the time. and a bunch of other talent. rebecca: it looked like it had everything it needed to succeed. mark: except money. we had a fraudulent chairman. he's in prison now, and he lieded to everybody about how much money the company had. i will agree with the critics on air america on one specific thing.
it was very hard to raise money for air america. you had a lot of very wealthy liberal donors who wowould give the democratic candidates and two other liberal causes, but could not find in their heart a way to give to a fourth [indiscernible] that would promote their message. the democrats and hard right find it natural to give to opportunities that will promote their message, and it's great. liberal and progressive and democrats could not get into their mind that they would actually have a consistent, profitable voice to generate their message. republicans have no problem with it. rebecca: you are juggling all these different hats. what are you m most exciteabout, and aren't you just exhausted? mark: i'm more peppy than other. i'm stoked aboutducation. hbo when it changed tv and aol when it changed the internet --
education is the next tassel whose walls won't crumble, but they will be affected a lot. i ask people, do you think college is worth $62,000 a year? most people say no. there is the only alternative -- many potential choicices. the most promising alternative i see is that for colllleges, the ones that are expensivehave to figure out a way to maximize their ast base. they have to figure out a way to offer a certification of a good degree without four full years nine months a year, sitting in a dorm dragging beer weekends. it's not going to worore. rebecca: is this your business passion or nonprofit passion? mark: both. there is a diagram where i will be able to serve in the not-for-profit arena and i will be able to do well by doing good
in building businesses that properlyelp colleges and universities. rebecca: mark walsh, thank you so much. mark: thank you. becca:a: when we return, millennial's are the future of business. we are f figurining out what makes them tick and how you can better reach out to them using social media. that is coming up in our small business s
it has really struck me when looking at social media h how many successful business leaders still shy away from using any social media. lot of them have personal faceok pages, they don't use it for work.k. 2 out of 3 innovatorspeaking to us to not even have a twitter account. should eveveryone, regdless of age, h have some presence on social media? guest: if you don't want your business to be successful, stay off social media. you have to gogo where the fish are.e. it is an easy wayy t to leverage your brand and levage to you are e authentitically. rebecca:a: if you are 40 or over, 50 or over, , it can be anan awkwkward fifit. what is the right fit where you
at least accay john social media? guest: -- act yrself on soci media? guest: if you are anlder demographic, generally those people tend to be on twitter,r, cebook or you want to make sure it is authentic to you and your brand and do itn a way that is you. rebecca: you say t the older crowds of a twitter and facebook. where are the yoyoungeger crowds? guest: instagr snapchat, and vivine. rebecca:hado you tell people? what i is your elevator pitch to executive guest: any social media play or plan is long-term. a lolot of mistakes businesses make is they wantnstant return on their investment of time. another mistake ththey will makeke is they will hire someone within the younunger demographic and think because they are young they know how to use social media. there is how you use the
platrm, and how youu communicate. you can have a youngng person who knows how to use a platform, but he or she may not know how to commununicate effectively to the mographic you're trying to reh. rebecca: senor charles grassley of iowa, well intotois 70's, not the typical social medidia guy, he's out there tweeting all day long anit is so authentic. it is coming from his voice using hishthand. he has a huge twitter following and it's because he's reaching out to voters directly, cutting out thmiddleman. he's not having his press secretary tweet for him, and it works. guest: you c tell when you get something from a corporation that is canned. you look at senator lindsey grahamwho does not even use e-mail, you have people who are authentic and how they use it youu tend to belve they understand you and are p part of your life and yo sphere and your world. if you are beinguthentic a hohow you are using it, peoplee
tend to avitate towawards that. rebecca: howo you pick w which e is right for you and how do you use it effectively? guest: the first thing is you hahave to figure out w what your demographic is. depending on who your decision-makers are, sometimes it cane linked in. sometimes it can be twitter t to create a social proof of who you are being expert in you space or it -- space. you have to ve quality in the content you shar people search because th want to value. recca: a tweet you are thinking about going tthe copy shop is a wae ofof time. guest: nobody cares about tha the next thing is you want to be authentic. the last thing, it has to be consisistent. u can't do once a week or ce a month. rebecca: i wiltweet fiveimes in an hour and then i ll go silent f for a week. guest: i i wasn't going to say anytng about that, but yeah. rebecca: those are all good
pieces of advice. how do you tell peopople to think like a millennial when it comes to using social media? oror should they just go the millennial's and talk like themselves? guest: just be authent. one of the thing about millennis is you want to get them early. they will not chge their md on what they do. you wantnt to get them early. part of thatat includes being authentic, and jusust being who youre. especicially ith are using your proroduct or service. theyey will undererstand and say this guy is legitimate and not justst trying to sell me sothing. rebecca: witthe younger group they keep changing g with t soal media sites they prefer. i'm still on facook and twitter. i will try to be more consistent. thank yoyou for joining us on "washington business report waiting for the reboundnd? what is going on in the housing economy.
rebecc welcome back, it's time for the round table. we have lots of hot topics to discusthis week. the president bragging about the trade agreement he got with congresshillary hitting ththe road and talking the economy. plus, is the economy in a slumump or in rebound? here to o talk a about t that and more, r tw favites peter rr ac, andn econonomics writer for the asassociated preress. wewelcome to you both. per, on friday the president had a press conference to brag
about the trade reement heot wiwith congress. it is basically allowing him fast-track ahority. what does it mean anand how will it be useful? peter: essentially tre agreements today are terribly complex. they have to be passed bboth hous of congress because revenue is involved. fast track requires the congress to vote up or down, one shot. rebecca: you can't amamend , yo can't t change it. peter: right. rebea: i am old enou that i worked on international tre lalaw in the senate on the finance committeeor nafta. that was the dealbreer or dealmake it is early. the senate agreed to vote on it. it would be great for him. peter: ithe senate votes yes. the koreanree trade agreement has doubled the trade deficitt with korea and cost us 100,000 jobs, the opposite of what he
promised. chuck schumer, the apparent minority leader, has come t ainst this bill. rebecca: josh, f conservativive economist, peter is s not the most free tra mullateraral kind of guy. what is your take on the trade agreement and whethther it is somethining the e president should be bragging about? josh: i love all korean food. for me, the deal turned out perfect. this is also about presidentl authority, in doeses the president have the authority and responsibility to interact with our foreign partners? after what we have seen with iran fast-track tradauthority is going to be something that obama wants from this particular congress a he can't help but counted as a win. rebecca: let'segue to peter's most exercised about this week hillary clinton on the campaign trail to you complement it her in your column this week, saying her rollout was a success, her video was a success, but the gop
response, you said will be a failure if they focus on social issues and don't respond to her take on the economy. once again, you raise that specter of open trade borders are you said the way the gop needs to respond is we are going to take on this economy that is kicking the u.s. where it counts. guest: fre trade is you expoport asas much as youou import. unfortunately, we have a $500 billion trade deficit which cost us 4 million jobs. if the gop will make it the they will have to talkbout how we get these 4 million jobs baback. thatould raise wages a lot for working-class people andnd something hillary has promised to address, but innother way. rebebecca: we are not ever going to once again exportore than we import, but go back to 1987 and paul kennedy and the rise and fall of grgreat nations, and look what happens when u close your borders and te that,
dodon't come after us, don't come after our markets mentality. i love peter, but i think he's wrong on this. who's right? guest: i'm going to go with you, becausyou jojot the kennedy book -- buck. it's important to understa thatat politically when we talk about ththe economy, mitt romney try to use trade as a wedge issue in the ohio race for presidency. ohio voters did not buy y it. they now work at places like honda. they have now seen what it's like working for foreign employs and the numbers don't connect in an emotial way in the campaign as much is that personal feeling. rebecca:guest: you have to ask yourself why does the majority ofof the present's party in congress oppose this legislation? rebecca: [indiscernible] guest: we have been doing this since the end the c clint period. since that time the economy y has grown at lesess than 2% are year.
-- per year. it's not a matter ofhrowing trade out the ndow it's a matter of making sure wewe compete on a levevel playing field. fast-track authority, bubut you get to negotiate all the deals. compromise. i give you the cpromisise in my column. do somethihing about currency and unfair trade. that is what chuck schumer wants. you hahave a rare moment here. peter is endorsing the e policy of the democratic leader inin the senate. rebecca: you are wearing a boot on your legrom stress fracture, but people think it is because i kick you under the table when i disagree with you. josh we ly have 30 seconds. we want to talk about economic rerecovery. one of the issues it is coming down to, housing is one funny mental issue. you say when people have the rent out parts of their home to
rent the mortgage -- pay the mortgage, it's not a good thing. guest: incomes have not kept pace with housing prices. we are starting to see that in particular in the d.c. area. rebecca: thehe job market is picking up again, oil prices are low, butonsumer confidence is lousy. ththe consumer price index is not goodod news. now people are saying, was that a one-off oror are we going toee recovevery. gues we will have a second-quarter recovery, but it will not be as robust as the federal reserve hoped. inflation is starting to pick up again, so they will be betweeeen a rock and a hard place for t that interest rate. it will be an interesting trauma this s summer for to talk about janet yellen and interest rates. est: "star wars"railer. rebecca: w
lets say this is your tv and these are the channels you pay for with c cable but these are the types of channels you actually want to watch what if you could pay for what you want, and not for what you don't so you could get kids channels sports... or entertainment mix and match, or get them all. now fios brings you a totally new way to customize your tv starting at $74.99 -- including internet and phone. cable just gives you channels. fios gives you choice.
the third quarteare me malays -- malaise? guest: i fl malaise, but if we see strength, y wilhave to come from nsumers. consumers are not spending their gains from lower gasoline and oil prices. rebecca: peter, give us aa projojection. peter: the economy -- economy ll grow between 2.5% and 3%. consumers are in a bter place thanhey were five years ago. most people are in better place than they were five years agoo. the economy will reflect it. rebecca: you heard it here. thanks for joining u us.
it's time for the volkswagen stop dreaming start driving event. get a $1000 volkswagen credit bonus. hurry in, during the final daysthe volkswagen stop dreaming start driving event and you can get 0% apr, plus a $1,000 volkswagen credit bonus on 2015 jetta and passat models. don't wait.offers end april 30th.
morris: this week -- >> customer service on the phone and in person has been are worse than anyone would want. it is a simple matter of not having enough people. morris: a tough tax season for the irs. new responsibilities, but a shrinking budget. the congress get the message? >> it is the border between the chinese internet and the world. morris: a new cyber wn.eapon. we discuss the great cannon. >> the government has a lot of responsibility, so it needs to be pretty picky about how it implements its oversight responsibilities. morris: a new report says uncle sam spends too much on software license agreements should ombtep in? [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] morris: